Chelsea Football Club is delighted to announce we have agreed terms with Fluminense for the transfer of Wallace in the January window.

As part of the deal, the 18-year-old defender will remain with Fluminense until the end of the season.

His move to Chelsea is hardly surprising. As ESPN's Harry Harris noted in early November, "The Blues have held 40% of the youngster's rights since 2010, when Deco left Chelsea for Fluminense on a free transfer, and have now agreed to pay €5.5 million to secure full ownership."

The transfer is expected to be in the £5 million range.

The young Brazilian is considered a bright and exciting attacking right-back, and for a young player he has already proven to be proficient in his crossing. He has made 18 appearances for Fluminense this season, scoring a goal.

He helped Fluminese take home the Campeonato Brasileiro Série A championship, Guanabara Cup and Rio State League championship.

Wallace was a regular fixture on the Brazil Under-17 squad, and he's now expected to slot into the country's Under-20 squad.

This is another excellent signing for Chelsea, and the team has bolstered its ranks with Brazilian players of late, also adding the electrifying Oscar this summer. Had they brought in Hulk over the summer as had been speculated, the Blues may have attracted a large Brazilian following.

While Wallace isn't expected to crack the first team anytime soon, he should be considered an exciting young defender ready to make a splash in two or three years.

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